Report on Vested interests in international investment banks

15-08-2007

Report no. 14/2006

Rigsrevisionen has examined whether the Ministry of Economic and Business Affairs has worked out written strategies for Denmark's involvement in international investment banks, whether the strategies encompass concrete objectives of the Danish involvement, whether strategies are embedded in relevant written policies, and finally whether there is a correlation between political objectives and the vested interests in the banks. Rigsrevisionen is of the opinion that strategies are an excellent tool to systematise Danish considerations concerning the future development of the banks.It has also been examined how and to which extent the Ministry of Economic and Business Affairs is seeking to gain influence on bank strategies and decisions at governing council meetings and board meetings and to which extent the Ministry has co-operated actively with board members to promote Danish interests.Finally, it is examined whether the Ministry's supervision of the audit of investment banks and the banks' target achievement is satisfactory.Report on the Ministry of Economic and Business Affairs' vested interests in international investment banks.Rigsrevisionen has examined whether the Ministry of Economic and Business Affairs has worked out written strategies for Denmark's involvement in international investment banks, whether the strategies encompass concrete objectives of the Danish involvement, whether strategies are embedded in relevant written policies, and finally whether there is a correlation between political objectives and the vested interests in the banks. Rigsrevisionen is of the opinion that strategies are an excellent tool to systematise Danish considerations concerning the future development of the banks.It has also been examined how and to which extent the Ministry of Economic and Business Affairs is seeking to gain influence on bank strategies and decisions at governing council meetings and board meetings and to which extent the Ministry has co-operated actively with board members to promote Danish interests.Finally, it is examined whether the Ministry's supervision of the audit of investment banks and the banks' target achievement is satisfactory.